London School of Islamic Finance

5 days 4-8 Sep 2017, London UK £4,895.00 + VAT* Download brochure Add to basket

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Overview

This five day intensive practical programme features everything you need to know about Islamic Finance.

The course provides detailed and comprehensive analysis into all major areas of Islamic Banking and Finance. Relevant theory is covered with the  primary focus on practical application and use of all products in the global Islamic finance markets. Guidance will be provided on such issues as:

  • Analysis of current market practices and what products and structures are utilized, and why
  • Developing new products for your clients and markets
  • Structuring products from the building block of theory (Islamic law) through to the final end product
  • Impact on each group of stakeholders (Scholars, structurers, legal, marketing, operations, risk, execution etc)

This course has been designed for professionals that have had little or no exposure to Islamic Finance (via the initial Overview module) through to those already exposed and working in the field requiring more detailed guidance and information.

It will broaden your knowledge of the industry and markets, as well as understanding all the major products used globally, and the characteristics and risk management aspects associated with them.

 

Who should attend

 

  • Bankers
  • Lawyers
  • Advisors and consultants
  • Operations specialists
  • Shariah specialists and advisors
  • Risk Management and compliance staff
  • Those with regulatory and compliance roles
  • Dealers, trading room staff
  • Chief Financial Officers
  • Corporate treasurers
  • Audit
  • Anyone with involvement in Islamic banking and finance

 

Instructors

We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

London
Safdar Alam

The course instructor is an investment banker and has been specialising in islamic Finance since 2001. He established the Islamic Banking teams at UBS and Credit Agricole, and in 2007 established and led the global Islamic Banking business at JP Morgan. In 2012 Safdar established a consultancy firm to provide services to the industry, with a focus being on positive and critical development of the industry. He counts amongst his clients Islamic Banks from London to the Middle East and Asia. He has led and executed transactions in Islamic Banking in excess of $10bn. He is a frequent speaker at workshops and conferences and contributes thought leadership articles to help drive critical discussion and debate in the global industry.

Venue

London

Central London Hotel Venue

All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

Related Courses

Inhouse


 

Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company's exact requirements? If you'd like to do either of these, we can bring this course to your company's office. You could even save up to 50% on the cost of sending delegates to a public course.

To find out more about running this course in-house:





Our Tailored Learning Offering

If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. We'll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

inhouse-learn-more

We can offer any of our public courses delivered at your office or we can devise completely tailored solutions:


Read more about our offering or complete a call back request to speak to a learning specialist.

 

Agenda

Day 1

PRINCIPLES AND STRUCTURING

  •  Introduction to the global industry of Islamic finance

                   - The major markets globally
                   - The major activities in those markets

  •  Introduction to the main principles of Islamic finance

                     - From original sources (textual) and its development over time towards modern banking

  • Application of principles in the development of modern products and markets

                     - How such theory is applied within the aspect of product development

  • Main contractual and transactional forms used globally, and analysis of main applications of such forms

                     - Murabaha – money markets, financing, retail finance, home finance, Sukuk, treasury products, FX, swaps
                     - Mudarabah – Sukuk, investments
                     - Musharakah – Sukuk, investments
                     - Ijara – leasing, investments, financing, money market funds, Sukuk

  • The process of moving from theory and contractual forms towards the end products for modern markets

                    - Major stakeholders involved
                       - Scholars
                       - Legal
                       - Operations
                       - Risk management
                       - Client managers
                       - Clients

  • Consultation with all relevant stakeholders and how to handle all aspects that will commonly arise

 

Day 2

The Sukuk market

  • Introduction to Sukuk, from classical structures
  • Modern use of Sukuk as equivalent to Islamic “bonds” and capital market instruments
  • Analysis of the market development

                - Increasing complexity of the sukuk product
                - The global adoption of Sukuk for both Islamic and non Islamic players
                - Domestic vs International Issuances, what points are considered and relevant

  • Analysis of widely used structures:

                - Ijara, Mudarabah, Wakalah, Musharakah, Murabaha etc
                - What structure is the best and most relevant for issuers and investors
                - Why are the various structures chosen over others

  • Using Sukuk for Project Finance
  • Securitisation and Sukuk
  • For each Sukuk structure, the following shall be covered

                - Developing basic contractual forms into complex Sukuk instruments
                - Detailed structure analysis and flows
                - Credit enhancements and risk management
                - Role of all parties involved (Issuer, agents, bookrunner, sales, issuer, Scholars, regulators)
                - Review of documentation, the key contracts involved
                - How to convert these structures into modern liquid capital market instruments
                - Pricing and related issues

  • Asset backed vs Asset based Sukuk, why is this important
  • Factors to be considered for both Soveraign and corporate issuers
  • What is more relevant to domestic issuance and international issuance
  • Economic factors considered

                - Currency
                - Tenor
                - Fixed vs floating rate profit distributions
                - Restructuring when required
                - Default and early termination scenarios

  • Use of Sukuk as liquid instruments

                - How to ensure Sukuk issues remain liquid and tradeable

  • Role of Scholars in the approval and on going auditing of Sukuk transactions over their life
  • Use of Sukuk in Equity Capital markets

                - Mezzanine finance
                - Equity linked returns and risk

Case Studies : There will be several case studies and analysis of the major and innovative Sukuk issuances and structures used in the markets


Day 3


Islamic Treasury Products

  • Focus on relevant guidelines and restrictions in Shariah and application to Treasury
  • Introduction to Islamic Money Markets

                - The use of commodity Murabaha from first principles
                - Documentation and risk outcome and risk management
                - Variations in commodity murabaha used in the global markets
                    - Single broker, dual broker, no broker
                    - Use of commodity murabaha in other sectors such as investments and financing
                - Analsysis of major risks involved
                     - Operational
                     - Legal
                     - Pricing and asset risk
                     - Settlement risk
              - Shariah Risk
                     - What is Shariah Risk and why is it relevant
                     - how Islamic contracts are viewed in the Courts (England)
             - Standardisation of money market products
                         - What is being done and why
                     - Difficulties that arise in standardisation
              - Wakala contracts, when are they used and why
                          - Pro and cons compared to Murbaha contract
              - The role of ISDA in Islamic markets and product development
              - FX products and risk management
                      - FX Spot
                                - Using commodity Murabaha
                      - FX Forward
                                - Using commodity Murabaha
                                - Using Wa’ad and undertakings
                          - Fx Options
                                 - Using commodity Murabaha
                                 - Using Wa’ad and undertakings
                     - The use of the Arboun contract in option structures

  • Analysis of Swaps

                    - FX Swaps and Cross Currency Swaps
                    - Profit Rate Swaps
                    - Different models and structures that can be used
                    - Impact of on balance sheet and off balance sheet models
                    - Marking to market
                    - Default and early termination scenarios

  • Yield Enhancement Products as liquidity tools

                    - Dual currency deposits

  • Capital protected deposits and investments

                   - How they are structured, priced and executed

  • Use of Sukuk as liquidity treasury instruments
  • Money Market funds 


                  - How are they structured
                  - Who uses them and why are they usefu

Case Studies : There will be several case studies and analysis of hedging strategies for FX and Profit Rate swaps, using the techniques that are covered. In addition, a structured investment and hedging solution will be developed for a demanding client.


 

Day 4

Investments

  • Focus on relevant guidelines and restrictions in Shariah and application to investing and buying of assets
  • Different kinds of funds available:
        - Equity
               - Which equities can be used and which are impermissible
        - Real Estate
               - Development of property
               - Purchase and rental income
        - Private Equity
                - Screening of assets
                - Conversion of non-Islamic to Islamic companies/assets
        - Structured products
                 - Returns on varied asset classes
                            - Indices
                            - FX,  rates
                            - Equities performance
                 - What are the actual assets that are purchased and how are they purchased

                - Alternative assets
                       - Gold
                       - Forestry etc

  • The role of Shariah compliance in funds

                 - Screening of assets and how it varies depending on the type of fund
                 - Contractual forms used
                    - Mudarabah
                    - Wakalah
                    - Musharakah
               - Auditing of asset pool during life of the fund

  • The use of financing (if required) for the purchase of assets eg Real Estate funds

                 - What kind of Islamic financing is available
                 - How is it utilised to purchase assets

  • Investments for different markets and investors

               - Retail
               - Institutional
               - Private Banking/ Wealth Management/ Family Offices

  • The application of capital protection when required by investors

Case Studies : There will be several case studies and analysis of funds/investments in the market covering different asset classes and structures


 

Day 5

Islamic financing products and markets

  • Financing from an Islamic perspective

              - When financing is permitted
                       - General financing vs financing for specific projects/enterprise
              - The different roles in a financing structure
                   - The traditional roles of lender and borrower are impermissible
                   -  Financier as an investor or agent
                   - The roles of agency in the contractual forms
               - How it needs to be structured
                    - Using building blocks such as Murabaha
                    - What if clean financing is required
                    - What if financing is required for specific purposes or acquisitions
               - How are profits generated for the financier when interest is impermissible

  • Analysis of financing products and markets

                - Corporate finance
                - Retail finance
                    - Personal financing
                    - Auto finance
                    - Home finance
                    - Credit cards
                - Collateralised finance
                - Syndicated finance
                - Structured/acquisition finance
                - Project finance
                - Debt capital markets / Sukuk
                - Equity capital markets
                - Trade finance

  • For each of the above markets, the following will be covered

                 - Suitable contractual forms to be utilised, based on current market practice
                 - Legal overview of the structures and contracts
                 - How have the markets evolved in each sector and the contractual forms have become more sophisticated
                 - How the “financier” has to become more involved in the whole transaction compared to a traditional lender
                       - The extra roles played by the financier
                       - Impact on regulatory aspect for banks and financing entities
                       - Risks faced by a financier

  • How each risk is mitigated contractually and in practice

Case Studies : There will be several case studies and analysis of financing transactions and products in the global markets as well as delegates working to find solution to innovative financing requirements of clients

 Course summary and close

 

Why us


We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product